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The basic requirement is the preparation of a financial report that provides specific advice for client.
Jossiah and Jemima Benson have recently married and in planning their future have decided to solicit the services of a financial advisor with the aim of implementing their short and long term financial plans and lifestyle goals. Jossiah and Jemima are both aged 28.
For their immediate future they have decided they want to purchase a new house and a new car. The house they want has a value of $400,000 and they are very excited as both Jossiah and Jemima have never owned a home before. They would also like to buy a new car for $60,000, however are unsure whether to purchase the car outright or salary sacrifice in order to obtain the car. They expect to travel approximately 35,000 km per year.
Their longer term plans involve establishing a fairly aggressive investment portfolio with the aim of directly purchasing an investment property and investing in a share portfolio of some sort amongst other strategies that you may recommend. They have also heard from a friend that margin lending can be a profitable and expedite way to achieve their goals.
Jossiah works as a minister for a local church and earns $70,000 gross income, while Jemima works for a kindergarten and earns $55,000 gross income. They also enjoy taking holidays and plan to have a holiday each year to the value of $5,000 with an around the world trip planned for five years time to the value of $20,000. Jossiah and Jemima are also keen to retire early and are quite willing to take on additional risk if this assists in them achieving their lifestyle goals faster. They have managed to save between them $180,000 in cash and are looking forward to your advise on how they should go about planning for their future lives together.
- Return Objective
- Risk Objective
- Time Horizon
- Legal and Regulatory
- Unique circumstances
Capital Market expectation
Investment Policy Statement
Legal and Regulatory Requirement
Capital market expectation